Mr. Lloyd George thoroughly approved of the Govern- inent's policy
in regard to Iraq—a fact which we are glad to .record as in the past few months many Liberals have . quite deserted the Glailstonian tradition of gympathizing with and helping small races oppressed by Turkey. He was more reserved about Locarno -which he said.must be judged Wits corollary, the Disarmament Conference. In dealing with foreign debts he -seems to us to have gone- Wh011y.astray. He said that the ideal policy was general ' cancellation—a policy with which Mr. Baldwin and most of us; of course, heartily agreed until. America made it impossible by demanding that we should pay what we had borrowed on behalf of our Allies. Mr. Lloyd George, we are sorry to learn, would have refused, or at all events delayed, the funding of our • debt to America. He was particularly scornful about the . settlement with Italy—a settlement which carried the relief of British Income-Tax payer " to the sublime altitude of id." He ended by denying that trade prospects were better. He found them gloomy. The State was paying 27 per cent. of the miners" wages and would be paying up to 40 per cent. next May.
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